TransMedics gains on FY24 forecast raise, strong Q1 results

TransMedics

01/05/2024 10:56

** Shares of medical device maker TransMedics  TMDX.O  rise
13.6% to $106.91 premarket
    ** Co sees FY24 revenue between $390 mln and $400 mln, up
from prior forecast of $360 mln to $370 mln
    ** Q1 revenue of $96.9 mln beat Wall Street est. of $83.8
mln - LSEG data 
    ** Co posts quarterly net income of $12.2 mln, compared with
net loss of $2.6 mln in Q1 2023
    ** Six of seven brokerages rate stock "buy" or higher, one
"hold"; their median PT is $117
    ** Up to Tuesday's close, stock had risen 19.3% YTD

 (Reporting by Khushi Singh in Bengaluru)
 ((Khushi.Singh@thomsonreuters.com;))